Swiss coffee machine maker Thermoplan, a key supplier to Starbucks, faces steep 39% U.S. tariffs, threatening a decades-long partnership. CEO Adrian Steiner calls the move a “punch to the gut,” as losses mount. To adapt, Thermoplan is pivoting to tea machines for the Chinese market. Meanwhile, Swiss firms like Ypsomed shift production to Germany to avoid tariffs. With chemical exports next in line, Switzerland’s export-driven economy braces for impact.